Hong Kong-listed investment bank China Renaissance is seeking to raise $600 million to introduce a public crypto treasury focused on BNB, the native token of the BNB Chain that’s widely used for discounts on Binance fees.
The proposed investment vehicle would be formed in the United States and structured as a publicly traded company, designed specifically to buy and hold BNB.
YZi Labs, the $10 billion family office of Binance co-founder Changpeng Zhao, plans to invest alongside the investment bank.
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